Development Loan, Staten Island, NY

PARADIGM FUNDING GROUP LLC Is pleased to announce the closing of the following loan in Staten Island, NY, to facilitate the retirement of the existing debt and provide equity recapture to the client.

Loan Amount: $12,500,000

Term: 12 Months

Lender Fee: 1%

Property Description: Unimproved development land, with plans pending for the construction of a mid-rise, luxury, residential condominium building, overlooking the Harbor and the minor league Yankee Stadium, totaling roughly 270,000 square feet. The loan featured a near 100% equity cash-out to the client, and closed in less than two weeks from application.

Luxury Condominium Building, Staten Island, NY

Paradigm Funding Real Estate LLC is pleased to announce the closing of the following loan in Staten Island, NY, to facilitate the retirement of the existing debt and provide equity recapture to the client.

Loan Amount: $12,500,000

Term: 12 Months

Lender Fee: 1%

Property Description: Unimproved development land, with plans pending for the construction of a mid-rise, luxury, residential condominium building, overlooking the Harbor and the minor league Yankee Stadium, totaling roughly 270,000 square feet.

The loan featured a near 100% equity cash-out to the client, and closed in less than two weeks from application.

Sample Transactions

Paradigm Funding Real Estate LLC is pleased to announce the closing of the following loan, to fund the acquisition and repositioning of a 29 story building, formerly used as student housing, for conversion to luxury condominiums. This building is located in downtown Brooklyn, minutes away from Borough Hall.

92 unit residential condominium building, Monticello, NY

PARADIGM FUNDING GROUP LLC is pleased to announce the closing of the following loan for the construction of a seven story, 92 unit residential condominium building featuring tennis courts and a swimming pool.

Construction Loan, Queens NY

is pleased to announce the closing of a $25,000,000 construction-to-permanent loan, secured by an existing 527 bed skilled-nursing facility in Queens, NY. The loan features a 5 year construction period, with a 25 year permanent loan to follow, for a total of 30 years.

The extended construction period was negotiated in order to minimize the interruption of the operations. The facility, owned by a not-for-profit, benefited from a loan that is non-recourse to the foundation, or any of its members.

$4,000,000 and $3,000,000, both of which are secured byaccounts receivables of 2 Skilled Nursing Facilities in NYS. $4,000,000 and $3,000,000, both of which are secured by accounts receivables of 2 Skilled Nursing Facilities in NYS.

Loan Closings

Paradigm Commercial Real Estate LLC is pleased to announce
the closing of two loans totaling $6,350,000, secured by two
properties located on Westchester Avenue in the Bronx.

The properties total 62,334 square feet, and are mixed-use in
nature; commercial and industrial.
The non-recourse loans have a 10 year term, amortize over 25 years,
and feature a declining prepayment penalty.

Land

Outlet Center, NY City

Paradigm Commercial Real Estate LLC is pleased to announce that we have financed the acquisition of the land, for a to-be-built outlet center – the first of it’s kind – in the history of New York City.

This acquisition represents the first of a three phase assemblage of land, upon which will sit a 405,000± square foot, waterfront outlet mall,

which will feature a promenade, outdoor eateries, play areas, etc. The loan funded in 5 days from application, and represented a loan to total capitalization ratio of 87.46%.

Refinance Package - Manhattan/Brooklyn

Paradigm Commercial Real Estate LLC is pleased to announce the closing of a $175,000,000 refinance package, secured by 11 multi-family / retail buildings located in Manhattan and one in Brooklyn.
The package, for which 3 regional banks were used, facilitated an enormous cash-out for the borrower, while securing long term, interest-only debt, with favorable rates, and declining prepayment penalties.

Multi-Family Properties

Multi Family Refinance Package

Paradigm Commercial Real Estate LLC announced the closing of a $175 million refinance package, secured by 11 multi-family / retail buildings located in Manhattan, and one in Brooklyn.

The package, for which three regional banks were used, facilitated an enormous cash-out for the borrower, while securing long term, interest-only debt, with favorable rates, and declining prepayment penalties.

Among the package, were iconic buildings located on an entire Amsterdam Avenue block, on Manhattan’s Upper West Side.

The borrowers were individual LLC’s owned by AC Partners, and the lenders were NYCB, Signature and Western Bank.

Among the 11 properties included in the package are 668 Amsterdam Avenue, 452 Ninth Avenue and 480 Humboldt Street, Brooklyn.